iShares Preferred and Income Securities ETF (NASDAQ:PFF) Reaches New 52-Week Low – Here’s Why

iShares Preferred and Income Securities ETF (NASDAQ:PFF) hit a new 52-week low during trading on Wednesday . The stock traded as low as $30.10 and last traded at $30.10, with a volume of 3431704 shares. The stock had previously closed at $30.36.

iShares Preferred and Income Securities ETF Trading Down 0.9%

The business’s 50 day moving average price is $30.80 and its two-hundred day moving average price is $31.11. The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of 3.71 and a beta of 0.53.

iShares Preferred and Income Securities ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, July 1st were paid a $0.1417 dividend. This represents a c) annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Wednesday, July 1st. This is a positive change from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.14.

Hedge Funds Weigh In On iShares Preferred and Income Securities ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new position in shares of iShares Preferred and Income Securities ETF in the third quarter valued at approximately $33,000. Roxbury Financial LLC grew its holdings in iShares Preferred and Income Securities ETF by 2,833.3% during the 2nd quarter. Roxbury Financial LLC now owns 1,408 shares of the company’s stock worth $43,000 after acquiring an additional 1,360 shares during the last quarter. Princeton Global Asset Management LLC increased its position in iShares Preferred and Income Securities ETF by 36.6% in the 1st quarter. Princeton Global Asset Management LLC now owns 1,608 shares of the company’s stock valued at $49,000 after acquiring an additional 431 shares during the period. Ascentis Independent Advisors acquired a new position in iShares Preferred and Income Securities ETF in the 1st quarter valued at approximately $59,000. Finally, Payden & Rygel bought a new position in shares of iShares Preferred and Income Securities ETF during the fourth quarter valued at $61,000. Institutional investors and hedge funds own 4.70% of the company’s stock.

iShares Preferred and Income Securities ETF Company Profile

iShares U.S. Preferred Stock ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results, which correspond to the price and yield performance, before fees and expenses, of the S&P U.S. Preferred Stock Index (the Underlying Index). The Underlying Index measures the performance of a select group of preferred stocks listed on the New York Stock Exchange (NYSE), NYSE Arca, Inc (NYSE Arca), NYSE Amex, NASDAQ Global Select Market, NASDAQ Select Market or NASDAQ Capital Market. The Underlying Index includes preferred stocks with a market capitalization over $100 million, which meet minimum price, liquidity, trading volume, maturity and other requirements determined by Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw Hill Companies (S&P).